TODAY’S MARKET SNAPSHOT:
|VIEW||SELL ON RISE||NEGATIVE|
The Indian market fell for the fourth consecutive session amid high volatility on June 30. The nifty50 erased all its gains in last hour of trade and closed in the red. Nifty 50 fell nearly 27 points while the bank Nifty fell 238 points and closed below 34800for the fourth consecutive trading session of the July expiry.
The Sensex closed 66 points lower at 52549, while the Nifty50 shaved off another27 points to end at 15721.
On the sectoral front, buying was seen only in IT space, while selling pressure was visible in all other sectors in today’s trading session.
On the broader market front, the nifty midcap 100 index was up 0.26 percent and the nifty small cap 100 index was marginally up 0.22 percent, outperforming the benchmark indices.
The advance decline ration stood in the ratio of 1:1
Nifty has broken important support level of 15740 and has closed below psychological level of 15750 for the second consecutive session. Nifty is currently unable to hold gains and as such investors are advised to sell every rise for handsome gains. Tomorrow the weakness is likely to continue on nifty. If nifty spot fails to hold 15700 in first hour of trade, initiate short positions on nifty futures for a possible target of 15500 where major support exists for the nifty. For uptrend to resume, nifty has to close above 15900.
Bank nifty was down for the entire session on June 30. Bank nifty broke an important support level of 34900 and closed below it at 34772.The overall data on bank nifty looks very negative. The derivative data is negative on bank nifty and one should hold short positions on bank nifty futures for a target of 34100 in next 1-3 sessions.
Tomorrow is the weekly expiry, hence volatility will be high on both sides.
FII & DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 1646.66 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1520.18 crore in the Indian Equity Market on June 309 as per provisional data available on the NSE.
TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)
ANALYSIS OF TODAY’S DERIVATIVE DATA for 1st July Expiry
As per today’s option chain data, strong resistance for nifty exists at 15800 level which has added 5105 contracts while as strong support exists at 15650 level which has added11565contracts. No significant writing done today on both call and put side.
- Bank Nifty
As per today’s option chain data, Strong resistance for bank nifty exists at 35000 level which has added 17171 contracts while as strong support exists at 34700 level which has added 14370 contracts. No significant writing visible today.
MAXIMUM PAIN OPTIONS FOR 1ST JULY EXPIRY
Sectors to watch out for tomorrow
- Nifty IT
- Nifty Small Cap
- Nifty Auto
Stocks to watch out for tomorrow:
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